2203 E MCKINLEY Street, Phoenix, AZ 85006
$1,699,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,699,000
Last Modified:
5/16/2025
Description
Located in an Opportunity Zone!
McKinley apartments is a 10-unit multifamily opportunity located in the East Side Submarket of Phoenix, Arizona. Originally built in 1964 and updated under current and prior ownership, this asset is strategically positioned near the Phoenix Sky Harbor International Airport. Supporting this location are several economic drivers including education, leisure and hospitality, and financial services. The roof is in like-new condition, the entire exterior has been refinished, and interiors have received updates to accommodate the current tenant base.
Additionally, the property has a strong rapport with HOM Inc, providing strong rents and hands-off marketing.
More Information MLS# 6757832
Contract Info
Current Price: $1,699,000
List Price: $1,699,000
Status: Active
List Date: 2024-09-12
Ownership: Fee Simple
Location Tax Legal
House Number: 2203
Compass: E
Street Name: MCKINLEY
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3833
Country: US
County Code: Maricopa
Subdivision: MONMOUTH PARK LOTS 13-24
Assessor Number: 116-03-090-G
Tax Year: 2023
General Property Description
Lot Size Dimensions: Normal
Year Built: 1964
Uncvrd Parking Spcs: 15
Total # of Units: 10
# of Buildings: 1
Zoning: R-4
Flood Zone: No
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Cross Street: 21st Place & McKinley St
Geo Lat: 33.456626
Geo Lon: -112.034133
Status Change Info
Status Change Date: 2025-03-03
Legal Info
Township: 1N
Range: 3E
Section: 3
Lot Number: 22
Income Expenses
Gross Annual Sch Inc: 161139.68
Net Operating Income: 130260.71
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 10
Avg Rent: 1540
Avg SqFt: 550
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Free-Standing Range; Refrigerator; Microwave
Heating: Window/Wall Unit(s)
Cooling: Ceiling Fan(s); Window/Wall Unit
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: >1 Space Per Unit; Paved
Owner Pays: Water; Electric; Trash Collection
Tenant Pays: None
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: May - 16 - 2025
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